Becoming an MLS Participant
Definition of the MLS: As defined by the National Association of REALTORS®, a Multiple Listing Service (MLS) is a means by which authorized Participants make blanket unilateral offers of compensation to other participants (acting as buyer agents, or in other agency or non-agency capacities defined by law); by which information is accumulated and disseminated to enable authorized Participants to prepare appraisals and other valuations of real property; by which Participants engaging in real estate appraisal contribute to common databases; and is a facility for the orderly correlation and dissemination of listing information among the Participants so that they may better serve their clients and the public. Entitlement to compensation is determined by the cooperating broker's performance as procuring cause of the sale (or lease).
The Fort Wayne Area Multiple Listing Service (FWAMLS) is a web-based database service that houses Participant's (Principal Broker's and their agents') real estate listings. The premise of any MLS is to allow for uniform offers of cooperation and compensation between Participants. The head of the real estate or appraisal firm (broker) is the individual who joins the FWAMLS as a Participant. To do so, an MLS Participant Application must be completed and submitted with the one-time $400 application fee.
How to qualify as an MLS Participant
A FWAMLS Participant must be a REALTOR® member of the Fort Wayne Area Association of REALTORS® (FWAAR) or a member in good standing in another REALTOR® Association. Also, a list of all licensed individuals who are directly, or indirectly affiliated with the Participant must be provided. This list should include all real estate salespersons, associate and independent brokers, appraisers, and appraiser trainees affiliated with the applicant. If the affiliated individual is a licensed real estate or appraisal professional, they must be reported as a licensee. These licensees become Subscribers (or users) of the FWAMLS. The Participant is subject to MLS Service fees for him/herself as well as all licensees affiliated with the Participant, billed on a quarterly basis.
It is up to the Participant to decide whether he/she pays the FWAMLS directly or if the licensees themselves pay the FWAMLS for service. In either case, the Participant is ultimately responsible for any fees assessed to their office by the FWAMLS. The FWAMLS Participant Application contains language which certifies the Participant agrees to abide by the FWAMLS Bylaws and the FWAMLS Rules and Regulations. These can be provided to applicants in hard copy by request, and can also be reached at any time online from the fwaar.com website, once MLS web login codes are provided to the Participant.
How do I join the FWAMLS if I'm not the head of my real estate firm?
If you are not the head of the firm, you cannot join the FWAMLS unless the principal broker of your firm joins as a Participant. Once the principal broker becomes a Participant, all licensees affiliated with said Participant will become FWAMLS Subscribers.
An exception is in the case of branch offices, where the managing broker (or, alternatively, the principal broker) of the branch office may join as Participant, and only those licensees affiliated with that specific branch office location need to be reported as FWAMLS Subscribers. For example, if a Participant has a main real estate office with 20 agents located in, say, Indianapolis, and also has a branch office located somewhere else, for example in Fort Wayne, with only 4 agents and a managing broker, then it is allowable for only the branch office to join the FWAMLS. In this example, the managing broker from the Fort Wayne office would apply to be a Participant (or, alternatively, the principal broker would apply to be a Participant and the managing broker would be added as a Subscriber), and the four agents underneath him/her would need to also be reported as FWAMLS Subscribers. In this example, the twenty agents at the Indianapolis branch would not need to join as Subscribers (however, they then could not be provided with access to the FWAMLS data in any fashion. The penalty for unauthorized access of MLS data includes a fine of up to $5,000, levied to the responsible Participant).
Key Benefits of Joining FWAMLS
- Access to the FWAMLS's state-of-the-art, feature-rich MLS system housing an average typical inventory of more than 5,000 active listings, and over 75,000 listings in all (including "solds" and other off-market statuses)
- Vast listing exposure with more than 1,500 MLS Subscribers (licensees) using the FWAMLS
- More than 800 unique agent logins per day, on average, for great exposure for your listings
- Faster sales!
- Free MLS training classes
- Free technical support from two local MLS Staff (phone and/or e-mail support)
- Free technical support from the MLS system vendor's Toll-free Help Desk (phone and/or e-mail support)
- Free access to ZipForm(TM) electronic forms software, including access to all FWAMLS forms, and all Indiana State Association forms, plus free FWAMLS paper-forms (available at the FWAMLS office)
- Opportunity to participate in the state-of-the-art, secure FWAMLS-offered electronic lockbox system (provided by SentriLock, LLC)
- Ability for Principal Broker to participate, at no cost, in the FWAMLS Internet Data Exchange (IDX) program. Click here for information on IDX.
For further assistance, you may email questions and requests to info@fwaar.com or by phone to (260) 426-4700.